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Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 100 units at $9 per unit 290 units at $12 per unit Jan. 10 purchase Jan. 22 purchase 110 units at $13 per unit At January 31, 210 units are still on hand. What is the value of the ending inventory at January 31 if Tomasino uses the FIFO method? Show your work. 4 BIUS IEEE1 X₂ x² Insert Formula

Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 100 units at $9 per unit 290 units at $12 per unit Jan. 10 purchase Jan. 22 purchase 110 units at $13 per unit At January 31, 210 units are still on hand. What is the value of the ending inventory at January 31 if Tomasino uses the FIFO method? Show your work. 4 BIUS IEEE1 X₂ x² Insert Formula

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 100 units at $9 per unit 290 units at $12 per unit Jan. 10 purchase Jan. 22 purchase 110 units at $13 per unit At January 31, 210 units are still on hand. What is the value of the ending inventory at January 31 if Tomasino uses the FIFO method? Show your work. B FACE IUSI EEE X, x² Insert Formula
Transcribed Image Text:Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 100 units at $9 per unit 290 units at $12 per unit Jan. 10 purchase Jan. 22 purchase 110 units at $13 per unit At January 31, 210 units are still on hand. What is the value of the ending inventory at January 31 if Tomasino uses the FIFO method? Show your work. B FACE IUSI EEE X, x² Insert Formula
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